Re: Foreclosure Question - Newbie

Foreclosures, Short Sales, Tax Foreclosures
1

I found an REO property.
I have a buyer ready to close that I can assign the contract to under the new FHA laws.

How do I close this deal? What I mean is, is there special rules with closing an REO or is it similar to doing a simultaneous closing?

Do I need to put down 5% as the realtor is requesting or can I put down $1,000.00?

Thanks
Toney

2

Hi
You have done a good question, it’s really interesting. If you get any good reply, so please let me know. So I’ll also get some good idea.
Thanks for your future help.